Homeward adds Jeffrey Diehl to its Board along with raising $105m funding including $20m equity financing led by Adams Street Partners

– USA, TX –  Homeward today announced it has secured growth capital of $105M, including $20M in equity and $85M in debt. The $20M of equity financing was led by Adams Street Partners, with additional participation by Javelin Venture Partners and LiveOak Venture Partners. The $85M in debt was secured from multiple institutional lenders.

Jeffrey Diehl, Adam Street’s Managing Partner and Head of Investments, will join the board.

Jeff led an early investment in BoomTown, one of the leading CRM solutions for real estate agents, and the investment in Homeward is consistent with Adam Street’s focus to target resilient companies that need capital to fuel growth.

“We are a selective investor, particularly in the current environment, but Homeward stood out,” said Jeffrey Diehl. “The company is growing rapidly, has strong leaders with deep industry experience, and has impressive traction with agent partners.”

The new funding will allow Homeward to purchase more homes for its customers and expand its agent partnerships.

Also participating in the round is Jed Katz, Managing Director of Javelin Venture Partners and formerly a Founder of Move.com and Rent.Net.

“Despite COVID-related volatility, we’ve continued to see strong customer and agent demand for our offering. Housing inventory is low right now, but demand remains high and customers are using our non-contingent cash offers to beat out other bidders,” said Tim Heyl, founder and CEO at Homeward.

“Homeward solves a long-term pain point for Realtors and their clients by making offers more competitive and home sales more certain,” said Jed Katz. “We think they have an A+ team and a solid model that’s well-positioned to scale in a way the industry and the capital markets will embrace.”

Putting agents back in the center of real estate transaction innovation

Tim Heyl founded Homeward to empower modern real estate agents. Tim is one of the country’s top agents, has sold over 3,500 homes, and founded the Heyl Group in 2009, which has grown to become one of the top 25 agent teams in the country.

“Most technology companies have come from outside the real estate space and have tried to cut the agent out,” said Heyl. “We’re taking a much different approach. We empower agents with institutional capital so they can enable their clients to buy before they sell.”

The company will be expanding its relationships with top agents in the three states it operates in: Texas, Colorado, and Georgia. In the coming years, the company plans to open its offering to agents nationwide.

“Homeward is built by a top agent who’s trying to empower us and not cut us out,” said Lane Hornung, Founder & CEO of 8z Real Estate. “Homeward understands the role agents should play in the transaction and that’s why we partnered with them. We use Homeward as a secret weapon to help win new clients and close contingent buyers a lot faster than we could before.”

“Working with Homeward, my clients got approved and made a winning offer within days,” said Grant Rothberg, a top real estate agent in Houston. “They were able to move into their new home first, then take their time to sell their old home, ultimately earning them $40,000 more than low-ball iBuyer offers.”

About Homeward

Homeward lets customers relax, and buy before they sell. Customers buy the home they want using an all-cash offer, and then sell their current property at full market value. Founded in 2018 and backed by Adams Street Partners and others, Homeward is expanding rapidly in Texas, Georgia and Colorado, with plans to offer it’s the solution to agents and homebuyers nationwide.

For more information: https://www.homeward.com

About Adams Street Partners

Adams Street Partners is one of the largest and most established private markets investment management firms in the world. Adams Street commenced its investment program in 1972, and today manages $41 billion of assets across five strategies – primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments. Adams Street employs more than 200 people in Chicago, Beijing, Boston, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.

For more information: https://www.adamsstreetpartners.com

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.